Bank of England’s Project Rosalind results out, digital pound plans in progress
The Bank of England (BOE) has made progress towards launching its digital currency after conducting a year-long investigation that highlighted the numerous opportunities presented by digital currency technology. BoE, digital pound, and Project Rosalind In collaboration with the Bank for International Settlements (BIS), the BoE initiated Project Rosalind to explore the potential advantages and feasibility of a central bank digital currency (CBDC). On June 16, the BIS unveiled the first part of the trial’s findings, indicating that a CBDC could facilitate faster individual payments, enable businesses to develop innovative financial products, and minimize instances of fraud. The programmability of money allows for online purchases to settle only after customers confirm the satisfactory receipt of goods. The Bank of England is a step closer to launching its own digital currency https://t.co/JD1CQYeyJJ — Bloomberg Crypto (@crypto) June 16, 2023 The early results fr...